SCHEDULES
SCHEDULE 2 AMENDMENTS OF STATUTORY PROVISIONS IMPOSING TRUST FOR SALE
Intestacy
5
1
Section 33 of the M1Administration of Estates Act 1925 (implied trust for sale on intestacy) is amended as follows.
2
For subsection (1) substitute—
1
On the death of a person intestate as to any real or personal estate, that estate shall be held in trust by his personal representatives with the power to sell it.
3
In subsection (2), for the words from the beginning to “pay all” substitute—
2
The personal representatives shall pay out of—
a
the ready money of the deceased (so far as not disposed of by his will, if any); and
b
any net money arising from disposing of any other part of his estate (after payment of costs),
all
4
In subsection (4), for the words from “including” to “retained” substitute “
and any part of the estate of the deceased which remains
”
.
5
The amendments made by this paragraph apply whether the death occurs before or after the commencement of this Act.